Moody's revises outlooks on four banks

Moody's Investors Service said it affirmed Bank of China (Hong Kong) Ltd.'s Aa3 long-term deposit ratings, along with the A2 long-term deposit and senior unsecured debt ratings of China Construction Bank (Asia) Corp. Ltd. and the A2 long-term deposit ratings of Industrial and Commercial Bank of China (Asia) Ltd. and Industrial and Commercial Bank of China (Macau) Ltd.

The outlooks on all four banks' also were revised to stable from negative.

The agency also said it affirmed Bank of China (Hong Kong)'s baseline credit assessment and adjusted baseline at A2, China Construction Bank's and Industrial Commercial Bank's baseline and adjusted baseline ratings at Baa1 and ICBC (Macau)'s baseline at Baa3 and adjusted baseline at Baa2.

This follows Moody's decision to downgrade China's sovereign rating to A1 from Aa3 and Hong Kong's sovereign rating to Aa2 from Aa1 and revise their outlooks to stable from negative.

The ratings and outlooks on the banks reflect the sovereign ratings, Moody's said.

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